The Tower Semiconductor Company’s project, located in Panvel, Raigad district, involves a two-phase investment totalling ₹84,947 crore, with ₹58,763 crore allocated for the first phase and ₹25,184 crore for the second. This initiative is set to create 15,000 jobs.

In a meeting held on July 30, the cabinet sub-committee also approved RRP Electronics’ semiconductor manufacturing project for OSAT and chips. Together with the Tower Semiconductor project, these ventures will position Maharashtra as a leader in advanced semiconductor production.

Skoda Auto Volkswagen India Company will invest ₹12,000 crore in Pune for a new electric vehicle manufacturing facility. This project is expected to create 1,000 jobs.

Toyota Kirloskar Motor Company plans to establish an electric vehicle manufacturing unit in Chhatrapati Sambhajinagar with an investment of ₹21,273 crore, generating an anticipated 12,000 jobs.

Raymond Luxury Cottons will invest ₹188 crore in Nandgaonkar Peth, Amravati, to develop a facility for spinning, yarn dyeing, and weaving jute and cotton. This project, part of the state’s textile policy, will generate 550 jobs.

Chief Minister Shinde emphasised that these significant investments in semiconductor and electric vehicle manufacturing will not only create direct and indirect employment but also enhance Maharashtra’s standing as a leading state in electric vehicle production. He noted that these projects will greatly benefit micro, small, and medium enterprises.